Shareholder DilutionLook, the deal here is highly dilutive. You forget all kinds of details.
HPX/Freidland is converting the money already spent past the 51% earn-in into shares at a knockdown price!!!!! Yikes.
The deal was 51% until an Feasability Study...................why would any shareholder or this BOD let him convert now?
Plus, HPX/Freildand gets warrants attached to the shares. And we dilute even more in the brokered PP.
Are you guys NUTS to call this a good deal?
And HPX/Freidland gets paid out like about $1.5M on the HPX expenses not being converted into units at the .81 cents price.
The drill rigs are down there in EL Alacran and other deposits/targets. We have more assays pending, one with visible gold.
We were carried 100% thru to FS.
Am I the only one who sees what a breech of fiduciary duty by the current BOD of Cordoba this is..............They have sold you out, there is not 1 advntage they can point to in this deal.
Previous poster have pointed this out.........Mario even commented that we did not need the $1.50 warrants back in the Sprind that did not get converted. We were CARRIED by HPX.
HPX/Friedland IS already the operator, and ownes 51% of the project.
IF Robert Frieldand and HPX and his Friends want to own more of Cordoba equity let them purchase shares in the open market like andyone else. Screw this PP with the units.
VOTE NO..........SEE this BOD in Court.